Shares of electric vertical takeoff and landing (eVTOL) aircraft developer Joby Aviation Inc (NYSE: JOBY) are experiencing a massive rally in afternoon trading on Tuesday, May 28th. As of 1:35 PM EDT, JOBY stock is trading at 1.95, or 28.34%, for the day. This significant upward momentum has captured the attention of the market.
Joby Aviation began the trading session at $8.02, already gapping up significantly from its previous close of $6.88. The buying enthusiasm continued, pushing the stock to an intraday high of $8.95. While it did see an intraday low of $7.99, the shares have maintained most of their impressive gains, showcasing strong investor confidence.
The company currently has a market capitalization of $6.99 billion. Joby Aviation does not presently have a reported Price-to-Earnings (P/E) ratio and does not offer a dividend yield to its shareholders. Looking at its performance over the past year, JOBY’s current price is making a strong move towards its 52-week high of $10.72, and is well above its 52-week low of $4.66.
Investors and industry watchers will be closely monitoring Joby Aviation’s stock performance as the trading day progresses to see if this powerful rally can be sustained.
